Crypto developer kidnapped, beaten and robbed of 300BTC

The creator of PRIZM, a cryptocurrency with a market cap of $15.5 M is said to be the most recent victim in a Bitcoin-related kidnap. The crypto developer kidnapped, beaten and robbed is said to have been attacked by 4 unknown men who made away with about 300 Bitcoins and other belongings before giving him a strange pill and Vodka to drink.

Kidnapping and physical robbery for Bitcoins is not something strange within the crypto space. Recently, the creator of a cryptocurrency called PRIZM was attacked and beaten by 4 unknown men who put him in a Mercedes and drove around the city of Moscow.

It is said that the attack took place on February 23 at around 10:00 pm, Moscow time in a street known as Isakovskogo.

Other belongings allegedly taken by the robbers include $20,000 in cash and 3 iPhones. The dollars in cash as reported by Forklog news was also just recently exchanged due to his planned trip to India.

According to Mash, a telegram channel, he was then given Vodka and a pill which resulted in him visiting the hospital before even reporting the incident to the police.

“they gave Yury some bright pill and forced him to drink it with Vodka”

Many Bitcoin-related robberies have been recorded in Russia and its surrounding neighbours in the past couple of days.

However, Russia is not the only country where such activities are taking place. Last year, a US resident was also arrested after he lured an acquaintance into a van where he forced and took his Ethereum Private keys at gunpoint.

Also, Pavel, a UK based Ukrainian and director of EXMO a UK based cryptocurrency exchange was kidnapped last year in Ukraine and only set free after a ransom of $1 M in BTC was paid.

What are your thoughts on such cryptocurrency related crimes and how can they be combatted?

Let us know what you think in the comment section below.

3 thoughts on “Crypto developer kidnapped, beaten and robbed of 300BTC

  • February 27, 2018 at 6:43 pm

    Watch out for KidnapCoin will be an ICO soon !

  • February 27, 2018 at 8:01 pm

    “What are your thoughts on such cryptocurrency related crimes and how can they be combatted?”

    Don’t live in Eastern Europe apparently.

  • February 28, 2018 at 12:46 am

    I just heard about this from Crypt0 on YouTube, but I’ve checked and this seems to have as yet no effect on the price of PRIZM (on Coinmarketcap). It seems very suspicious to me.


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